Outlook 05/29: U.S. stock futures are pointing lower after China's parliament moved forward with national security legislation for Hong Kong and with President Trump holding a press conference later today on potential sanctions on Chinese officials. A revocation of Hong Kong's favored status is considered a worst-case outcome of the press conference for investors.
/ESM20 Value: YVAH 3053 YPOC 3042 YVAL 3032 GAP 3038
/ES Plan: Last session market closed balanced, and overnight continues on that way, moving above yesterday's range, so these are the initial balance options for today's opening:
A) If market remains below LIS HVE 3025 with bearish internals, sell towards ONL 3011.25 and HVEs 2995-2980-2963.
B) If market moves above LIS HVE 3025 with bullish internals, buy towards GAP 3038 ONH 3039 HVE 3062 and PBT 3068.
Note: It's Friday, the final day of the month. Trade the first 2 hours for liquidity. If you get a decent success rate in the morning, trading Friday afternoon is totally unnecessary.
Market Movers
09:45 Chicago PMI
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11:00 Jerome Powell Speech
01:00 PM Baker-Hughes Rig Count
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